Selby Associates Services: Selling Your Business

Before you decide whether or not to hire a business adviser to sell your business, it is important to understand exactly what that person is going to do for you and analyze whether or not the benefits of hiring that person will help your business. A business adviser should help you achieve a profitable result whether you desire a sale or acquisition. Generally, the process of working with Selby Associates can be broken down into three steps:

Prepare Your Business for Sale: during this stage of the sale process, your adviser will take a close look at your business operations, the appearance of your business, and the condition of your financial books to determine what changes are important to make before the business is listed for sale. For example, if you own a wholesale business then Selby Associates may recommend that you establish clear procedures and train key employees on those procedures before you list the business for sale. Likewise, if you own a retail store, Selby Associates may suggest a fresh coat of paint, new signs or other cosmetic changes to increase the value of your business. Regardless of the type of business you operate, Selby Associates will help make sure that your books are well organized and complete so that potential buyers will be confident in their purchase.

Find a Buyer: once your business is prepared for sale, Selby Associates will work on finding the right buyer for your business. This is likely to include confidentially marketing your business in the right places and reviewing the Selby Associates network of interested sellers to determine if there is a match. Once potential buyers have been identified Selby Associates will make sure that the buyer is seriously interested in completing the sale and financially qualified to do so.

Close the Deal: after a qualified buyer has been identified, there is still a lot of work to be done before a business closing. The buyer will want to complete due diligence to get all of the details about the impending purchase and the buyer is likely to have to secure financing. Selby Associates will work with the buyer on both of these important issues. Further, Selby Associates will continue to work with a buyer to make sure that buyer jitters or nervousness about the impending closing do not sabotage a successful sale.

Many business sellers find it advantageous to work with business advisers. The process of preparing a business for sale, finding a buyer and closing a deal are cumbersome, time consuming and vitally important to a successful and profitable sale. Thus, hiring an experienced firm like Selby Associates to help you with selling your business is often a profitable and positive experience that allows you to achieve your personal and professional goals.

Contact Selby Associates today

For further information or to schedule a meeting, contact us at (856) 424-3373 or via the form below.

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For a list of articles by Selby Associates including: Early Planning To Sell Business, Increase Value Of Restaurant Business, and Business Broker Process

Common term used by business brokers:

Asset Sale

A sale that includes all of the assets, including but not limited to, all equipment, customer lists, and the name of the company. The seller may be able to keep shares of stock, but all other assets of the business go to the purchaser.

Common question posed to our business brokers:What is Due Diligence?

Due diligence is the period where the buyer finds out all of the information that it needs about your business before an actual sale takes place. Due diligence may include investigating financial records, personnel files, property, equipment, and business operations. The actual terms of due diligence will be negotiated between the parties and your business broker will help you navigate the fine line between making sure that the buyer has all of the necessary information to go through with the sale and a buyer's abuse of the due diligence period.